Wednesday, March 24, 2021

g-f(2)178 THE BIG PICTURE OF BUSINESS ARTIFICIAL INTELLIGENCE (3/24/2021), MIT SMR, How HR Leaders Are Preparing for the AI-Enabled Workforce.




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Condensed knowledge


  • CONTEXT
  • Awaiting AI’s prevalence, companies’ upskilling strategies range from doing nothing to empowering employees to set their own career paths.
  • Most of these HR leaders and general managers are not focusing on AI, even when they are considering the effects that AI might have on occupations. 
    • They are helping their workers get ready for the future of the company. 
    • They’re about understanding that companies need to be more agile in skilling and staffing, and their ability to adjust to change. This is a mindset that all HR and talent leaders should have, regardless of whether major threats are coming soon.
  • The promise — and threat — of AI is real. 
  • But the impact on jobs has not yet arrived in most organizations. 
  • Fast-forward a few years, and the story is different. As with many technologies, reality did not keep up with the hype — at least not right away. 
  • The analysts, managers, and industry gurus forgot the first law of digital innovation: Technology changes quickly, but organizations change much more slowly. 
    • Many people are working with smart machines in their daily work, but few have lost their jobs to them. 
  • Job change, however, is more likely. A 2021 McKinsey study estimated that 6% of workers — particularly those in low-wage roles — may need to find new jobs because of automation and the pandemic. A 2018 Deloitte survey found that 82% of AI adopters expected moderate or substantial job changes for their employees in three years.
  • To understand how organizations are preparing for the future of their workforces, we reached out to HR and talent heads in several large companies. We asked them how they are getting ready for AI-enabled changes in the occupations and skills in their organizations.
  • In this article, we explore four workforce strategies companies are pursuing. 
    • Strategy 1: Doing Nothing
    • Strategy 2: Building Digital Skills
    • Strategy 3: Predicting Job Trends
    • Strategy 4: Helping Workers Choose Their Own Futures 
      • Unilever is taking a different approach to preparing workers for future jobs. Instead of trying to predict which jobs will change, the company is helping workers take more ownership of their own paths.
  • Taking the Bull by the Horns 
    • While the slow pace of AI has caused some leaders to relax, others are taking the bull by the horns. We highlighted three ways they are actively preparing for the future rather than waiting for the future to spear them.

Category 2: The Big Picture of the Digital Age

[genioux fact produced, deduced or extracted from MIT SMR]

Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).

Type of validity of the "genioux fact". 

  • Inherited from sources + Supported by the knowledge of one or more experts + Supported by research.

Authors of the genioux fact

Fernando Machuca


References




ABOUT THE AUTHORS


Thomas H. Davenport (@tdav) is the President’s Distinguished Professor of Information Technology and Management at Babson College, a visiting professor at Oxford University’s Säid School of Business, a fellow of the MIT Initiative on the Digital Economy, and a senior adviser to Deloitte’s AI and Analytics practice. 

Extracted from Wikipedia


Thomas Hayes "Tom" Davenport, Jr. (born October 17, 1954) is an American academic and author specializing in analytics, business process innovation, knowledge management, and artificial intelligence. He is currently the President’s Distinguished Professor in Information Technology and Management at Babson College, a Fellow of the MIT Initiative on the Digital Economy, Co-founder of the International Institute for Analytics, and a Senior Advisor to Deloitte Analytics.

Davenport has written, coauthored, or edited twenty books, including the first books on analytical competition, business process reengineering and achieving value from enterprise systems, and the best seller, Working Knowledge (with Larry Prusak) (Davenport & Prusak 2000), on knowledge management. He has written more than one hundred articles for such publications as Harvard Business Review, MIT Sloan Management Review, California Management Review, the Financial Times, and many other publications. Davenport has also been a columnist for The Wall Street Journal, CIO, InformationWeek, and Forbes magazines.


George Westerman (@gwesterman) is a senior lecturer at the MIT Sloan School of Management and principal research scientist for workforce learning in MIT’s Abdul Latif Jameel World Education Lab.

Dr. George Westerman works at the dynamic intersection of executive leadership and technology strategy.  During more than 17 years with MIT Sloan School of Management, he has written three award-winning books, including Leading Digital: Turning Technology Into Business Transformation. As a pioneering researcher on digital transformation, George has published papers in Harvard Business Review, Sloan Management Review, and other top journals.  He is now focused on helping employers, educators, and other groups to rethink the process of workforce learning around the world.


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